Description
In Colombia, a large number of companies and agencies offer a wide range of services. For lodging, a variety of hotels and accommodations are available at different prices according to the client's requirements. For electricity services, each municipality or department has companies providing such services. For financial services, a significant number of banks and financial entities are also available; and finally, a number of courier service companies operate at the departmental, national and international levels.
Lodging
Colombia has a large variety of hotels for different needs from a wide hotel infrastructure for tourists and business travelers to a wide range of housing properties for rent, furnished and unfurnished, for short- and long-term stays. Real estate properties can be contracted through real estate agencies through specialized sales and rental websites, especially in the main cities.
Electricity and Power
The electricity sector in Colombia is mostly dominated by hydropower generation (66% of production) and thermal generation (33%). However, the country's great potential in new wind, solar and biomass renewable energy technologies has been barely explored.
Law of 2001 intended to promote alternative energy lacks key provisions to achieve this objective, such as feed-in tariffs, and so far has had little impact. Large hydro and thermal power plants currently drive current expansion plans.
Power supply service in Colombia, measured by interruptions is 11.7% on average and 15.5% in the duration of interruptions per subscriber averaging 66 hours.
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Electricity and power summary table |
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Production Unit |
Type (hydropower, thermal power, etc.) |
Installed Capacity (MW) |
Current Production(MW) |
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GWH |
Hydropower, thermal power, smaller plants |
(66) 548.5 |
(66) 548.5 |
Source: https://es.wikipedia.org/wiki/Sector_el%C3%A9ctrico_en_Colombia
Financial Services
The Colombian financial system is made up of credit institutions (CIs), financial services entities (FSEs) and other financial entities, most of which have grouped together as financial conglomerates, with a presence both domestically and abroad.
In Colombia, a reasonable competitive market is in place, offering differential rates depending on their level of service and coverage. Most banks have recently turned to mobile banking to simplify all types of transactions through mobile devices so that users do not need to go physically to banks.
Bancolombia
Bancolombia is the largest private bank in the country in terms of assets, customers and nationwide coverage, with subsidiaries and affiliates in the region. The bank is part of one of the most important financial holdings in the country, Grupo Bancolombia, offering a broad portfolio of financial services.
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Company description |
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Company name |
Banco de Colombia |
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Physical Address |
Carrera 48 # 26-85, Medellín, Antioquia, Colombia |
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Available? |
Remarks (Max/min transfer or exchange amounts, etc.) |
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IBAN, BIC or SWIFT code? |
Yes |
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Foreign exchange? |
Yes |
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Send/receive wire transfers? |
Yes |
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Loan/credit services? |
Yes |
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Other remarks or key information |
N/A |
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Other locations |
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Region(s) |
Service Location(s) |
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National coverage |
See regional branches: https://sufi.grupobancolombia.com/wps/portal/sufi/somos-sufi/oficinas |
Postal and Courier Services
Colombia has a large number of companies offering postal and courier services. Most are national companies, although some international companies also offer this service.
Money orders are the service through which payments are ordered to natural or legal persons on behalf of others through a postal network. Postal money orders can be physical or electronic. Some operators are: Efecty Ltda., Baloto, Éxito, Paga Todo, Su Red, Red Servi, Western Unión, Servicios Postales Nacionales S.A., Supergiros S.A., among others.
Printing and Publishing Services
The printing market is wide with all types of companies, some offer a high-tech portfolio such as digital printing and others are small printing shops with less sophisticated printing services. Some of these companies provide publishing services, while others do not. The publishing sector is composed of large, medium and small publishers, which have portfolios for publication in print or digital media.
Taxi Companies
A large number of cab companies have their own fleet or affiliate vehicles owned by third parties. The service is generally safe, but it is recommended to request it by phone or use different mobile applications of the companies authorized to operate the service.
Uber and Didi also operate in the main cities, however, this service is considered illegal by the government because these companies are not incorporated as transportation companies. However, this service has a good level of demand, especially in the middle and upper socioeconomic levels.
Special Passenger Transportation Services
The market of companies regulated by the Ministry of Transportation provides special passenger transportation services, which refers to vehicles with white license plates that are not classified as cabs or buses mainly used for school, business, and health sector transportation. This special passenger transportation is the best option for those seeking safety and reliability.
Vehicle Rental
This market is mainly dominated by multinationals such as Avis, Alkilautos, Rent a Car, among others, are located in the main cities of the country offering the rental of all types of vehicles according to customer needs.
Waste Management and Disposal Services
These services are provided by private companies or consortiums contracted by cities or municipalities through public bids, meeting high technical standards of collection, transportation and disposal in sanitary landfills.
Hazardous Waste Disposal Services
The treatment of hazardous and special waste from hospitals, laboratories, mining-energy exploration projects and any activity related to hazardous waste has acquired a relevant role in the business environment that must comply with the requirements set forth in local laws. For this purpose, a number of companies in Colombia are professionally and technically dedicated to this task, complying with the regulations on this matter.
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